IHH Healthcare shareholders approve Prince Court acquisition

PETALING JAYA: IHH Healthcare Bhd (IHH) shareholders have given almost unanimous approval for the group’s proposed acquisition of Prince Court Medical Centre for RM1.02 billion, it said in a statement today.

At an extraordinary general meeting, more than 99.99% of non-interested IHH shareholders and proxies voted in favour of the conditional share purchase agreement between IHH’s wholly-owned subsidiary, Pantai Holdings Sdn Bhd, and Pulau Memutik Ventures Sdn Bhd, a wholly-owned subsidiary of Khazanah Nasional Bhd, for the acquisition of Prince Court’s entire issued share capital.

IHH expects the proposed acquisition to be completed in the first quarter of 2020. Once the transaction is completed, Prince Court will become the group’s 16th hospital in Malaysia.

Located in the Golden Triangle of Kuala Lumpur, Prince Court is a 277-bed private healthcare facility offering a wide range of services including, among others, burns management, cancer, gastrointestinal diseases, interventional cardiology, in vitro fertilisation, nephrology, occupational health, orthopaedic and rehabilitation medicine.